Glossary · Buying & selling
What is Closing costs?
Closing costs are the one-time fees and taxes you pay to finalize a home purchase, on top of the down payment.
Definition
Closing costs typically include land transfer tax, legal fees, title insurance, appraisal and inspection fees, and adjustments for prepaid property taxes or utilities. They usually add up to a few percent of the purchase price.
Budgeting for closing costs early prevents surprises at the finish line. Your lawyer or notary will provide a statement of adjustments detailing exactly what's owed on closing day.
When closing costs matters
- Budgeting the full cost of buying a home
- Avoiding surprises on closing day
- Comparing offers and total purchase costs
With Homeprint
How Homeprint helps with closing costs
Homeprint helps you store your closing documents and statement of adjustments so they're easy to find for taxes and resale.
- Keep every related document in one secure place
- Track your home's value and finances over time
- Stay connected with trusted neighbourhood experts
Closing costs — FAQ
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